A new study by client lifestyle management provider Fenergo shows that fines against financial institutions for non-compliance with anti-money laundering (AML), Know Your Customer (KYC) and sanctions regulations increased by 160 percent over the last 15 months.
Twelve of the world’s top 50 banks were fined for non-compliance with AML, KYC and sanctions violations in 2019.
Read on for reaction from Fenergo leaders and more details from the study.
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